Acquisitions and Dispositions (Tables)

6 Months Ended

Mar. 28, 2015

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the acquisition date. Certain estimated values for the acquisition, including goodwill, intangible assets, property, plant and equipment, and deferred taxes, are not yet finalized and the preliminary purchase price allocations are subject to change as we complete our analysis of the fair value at the date of acquisition. The purchase price was allocated based on information available at the acquisition date. During the first six months of fiscal 2015, we recorded measurement period adjustments, which reduced goodwill by $15 million, after obtaining additional information regarding, among other things, asset valuations and liabilities assumed. The amount was not considered material and therefore prior periods have not been revised.



	in millions
Cash and cash equivalents		$	72
Accounts receivable		236
Inventories		414
Other current assets		337
Property, Plant and Equipment		1,301
Goodwill		4,789
Intangible Assets		5,141
Other Assets		65
Accounts payable		(347		)
Other current liabilities		(326		)
Long-Term Debt		(869		)
Deferred Income Taxes		(2,072		)
Other Liabilities		(497		)
Net assets acquired		$	8,244

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The fair value of identifiable intangible assets is as follows (in millions):



Intangible Asset Category	Type	Life in Years	Fair Value
Brands & trademarks	Non-amortizable	Indefinite	$	4,062
Brands & trademarks	Amortizable	20 years	532
Customer relationships	Amortizable	Weighted average life of 16 years	541
Non-compete agreements	Amortizable	One year	6
Total identifiable intangible assets			$	5,141

Schedule of Indefinite-lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The fair value of identifiable intangible assets is as follows (in millions):



Intangible Asset Category	Type	Life in Years	Fair Value
Brands & trademarks	Non-amortizable	Indefinite	$	4,062
Brands & trademarks	Amortizable	20 years	532
Customer relationships	Amortizable	Weighted average life of 16 years	541
Non-compete agreements	Amortizable	One year	6
Total identifiable intangible assets			$	5,141

Business Acquisition, Pro Forma Information [Table Text Block]

The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results of operations as they would have been had the acquisition occurred on the assumed date, nor is it necessarily an indication of future operating results. The pro forma results for the six months ended March 29, 2014 include a nonrecurring tax benefit of $46 million recognized by Hillshire Brands primarily related to the release of valuation allowances on state deferred tax assets.



in millions	Three Months Ended		Six Months Ended
	March 29, 2014		March 29, 2014
Pro forma sales	$	9,970	$	19,787
Pro forma net income from continuing operations attributable to Tyson	$	223	$	561
Pro forma net income per diluted share from continuing operations attributable to Tyson	$	0.53	$	1.34

Summary of Net Assets and Liabilities Held for Sale

The following table summarizes the net assets and liabilities held for sale (in millions):



	March 28, 2015		September 27, 2014
Assets held for sale:
Accounts receivable, net	$	17	$	74
Inventories	76		141
Other current assets	15		72
Net property, plant and equipment	75		132
Goodwill	14		16
Other assets	8		11
Total assets held for sale	$	205	$	446
Liabilities held for sale:
Current debt	$	—	$	32
Accounts payable	25		61
Other current liabilities	14		27
Long-term debt	—		9
Deferred income taxes	10		12
Total liabilities held for sale	$	49	$	141

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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